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Written by SOT.COM.AL 24 Mars 2023
Authorities in South Korea say that the fugitive boss of a fraudulent cryptocurrency scheme, Do Kwon, who caused a loss of 40 billion dollars, has been arrested in Montenegro.
Do Kwon is one of the most wanted people in the United States after he and his company Terraform Labs orchestrated a billion-dollar virtual currency scam.
In September, South Korean authorities issued an arrest warrant for Kwon on charges that his company had violated market rules.
He was previously thought to be hiding in Serbia, and Seoul sent officials to Belgrade to negotiate his arrest, as the two countries do not have extradition relations. While Kwon denied being on the run, he would not reveal his whereabouts.
The news about his arrest was given by the Montenegrin Minister of the Interior, Filip Adzic, who stated that one of the most wanted persons in the world was caught at the Podgorica airport.
Adzic adds that the suspect was trying to travel with a false identity and false documents. In the early hours of Friday morning, Korean authorities confirmed that it was Keon after fingerprints were verified.
It is still not known how the procedures will continue since Montenegro does not have an extradition agreement with the United States or South Korea.
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